SBA Loans for The Covery Franchises
Who actually funds The Covery SBA 7(a) deals, and how much they lend. Sourced directly from SBA FOIA records covering every approved 7(a) loan from 2023 to 2024.
Top lenders funding The Covery SBA loans
Ranked by number of The Covery 7(a) loans approved since 2023.
| # | Lender | Loans | Total Volume | Avg Loan |
|---|---|---|---|---|
| 1 | BayFirst National Bank | 1 | $863K | $863K |
| 1 | Eastern Bank | 1 | $469K | $469K |
| 1 | Newtek Bank, National Association | 1 | $1.0M | $1.0M |
Source: SBA FOIA 7(a) loan-level data, 2023 to 2024. Shows lenders with at least one approved The Covery loan in this period, ranked by loan count.
The Covery SBA loans by state
| State | Loans | Total Volume | Avg Loan |
|---|---|---|---|
| MS | 1 | $1.0M | $1.0M |
| FL | 1 | $863K | $863K |
| MA | 1 | $469K | $469K |
The Covery SBA loans by year
How The Covery SBA loans have performed
Outcomes for every funded The Covery 7(a) loan approved since FY2010. Each SBA loan usually finances one location, so read these as an estimate of units.
Source: SBA FOIA 7(a) loan-level data. Defaulted means the SBA purchased the guaranty (charged off, or purchased and not yet charged off). Recent loans have had less time to default, and small loan counts swing widely, so one or two loans can move these percentages a lot.
SBA lender notes for The Coveryfrom the SBA Franchise Directory
1. When the real estate where the franchise business is located will secure the SBA-guaranted loan, the Lease Addendum, may not be executed. 2. If Applicant also operates under a management agreement with a third party, Lender/CDC must review the management agreement in accordance with SOP 50 10 to determine if there is affiliation between the Applicant and the management company. The Applicant is not eligible if the management company is, or is affiliated with, the franchisor.
How to use this
The lenders above have actually closed SBA 7(a) loans for The Covery franchisees, so they already understand the brand's model, unit economics, and franchise agreement. That familiarity usually means a faster, cleaner underwrite than a lender seeing the concept for the first time.
A lender being active historically doesn't mean they're the right fit for your deal size, location, or timing right now. That's where we come in, and we match your The Covery deal to a lender currently funding this brand.
Financing a The Covery franchise?
We know which lenders are actively funding The Covery deals right now and which fit your loan size and location. Pre-qualify and we'll find your match (free to borrowers).